Trading terminals charge a 0.9% - 1% fee that could be going into YOUR POCKETS.
If you are using the limit order feature on these platforms, you're ROBBING YOURSELF of free money.
What you should be doing instead is adding liquidity to a pool and entering that way.
Adding liquidity to a pool is functionally identical to setting DCA limit orders, but instead of the fees going to the trading terminals, the fees get paid to YOU.
The only thing that you have to learn is how to add liquidity to the pool and then set that liquidity to be active in the price range that you want.
As an example of how CRACKED this actually is, I'll give an example.
One coin that I've been looking to re-enter is $ๅๅบ็ฑณ at around the 25-30m range.
If I added $10,000 worth of BNB or WBNB into the ๅๅบ็ฑณ/WBNB pool, I would have been:
- filled at my ideal prices
- paid $1,000 in fees for opening that position (because price ranged in that zone for about a day)
Had I placed the same "limit order" on a trading terminal, it would have cost me the 1% platform fee AND the 1% fee from the pool.
I say "limit order" because on trading terminals, a limit order is not actually a limit order. What they do is they buy at MARKET for you when prices reach your desired level and this FORCES you to pay the platform and LP fee.
If you're looking to learn how to do this, @0xBiZzy and @MeteoraAG have amazing content breaking down the basics. Their content is based on Solana and Meteora pools, but the concepts carry over to any other liquidity pool on any other chain.